U.S. grants BP, Serica licence to run Iran-owned North Sea field - Loosey Goosey Sanctions!

The United States has granted BP (BP.L) and Serica Energy (SQZ.L) a new licence to run a North Sea gas field partly owned by Iran in a rare exemption by U.S. President Donald Trump’s administration as it prepares to renew sanctions on Tehran next month.

The waiver extension will allow Serica to complete the acquisition of BP’s stake in the Rhum, Bruce and Keith fields, as well as buying Total’s (TOTF.PA) stakes in Bruce and Keith, Serica said in a statement.

Rhum, which supplies around 5 percent of Britain’s gas demand, is half owned by Iranian Oil Company, a subsidiary of the national oil company.

The U.S. Office of Foreign Assets Control extended a licence for U.S. and U.S.-owned or controlled entities to provide goods, services and support the Rhum field.

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